Altaline invests in Risk & Regulatory Consulting

Private equity firm Altaline Capital Management has made a strategic growth investment in Risk & Regulatory Consulting , an independent provider of actuarial, financial, IT, compliance, and other services to US insurance regulators. Financial terms weren’t disclosed.

Founded in 1988, RRC employs around 160 people and serves insurance departments and related organizations across 44 states and jurisdictions. Its services include financial and IT examinations, market conduct examinations, actuarial work, insolvency and receivership support, market studies, and investment analysis.

Co-CEOs LeeAnne Creevy and Tricia Matson will continue to lead the business. Altaline plans to support hiring and introduce an employee ownership program that will allow substantially all RRC employees to receive equity.

Former Willis Towers Watson CEO John Haley and former Marsh Captive Solutions president Ellen Charnley are joining RRC’s board. Apogem Capital provided debt financing, while Align Collaborate provided equity financing for the transaction.

“As part of our investment research work, we found the public sector actuarial solutions market to be compelling and RRC, in particular, to have all the attributes we look for here at Altaline. Nearly four decades of regulatory relationships, genuine technical depth and national coverage. Very few firms can do this work at the standard regulators now need, and we intend to help RRC remain the one that does it best.” – Sebastian O’Neill, Principal at Altaline Capital Management.